| Popis: |
Within the economic policies implemented by the six Economy Ministers of the Peronist government of 1973-1976 there exist two cases in which shock policies or shock adjustments were done with the aim to correct the problems that the Argentinean economy was suffering. those were the shock programs implemented by Minsiters Celestino Rodrigo (June 1975-July 1975) and Emilio Mondelli (February 1976- March 1976). Among the problems that they had to face there was a huge crisis in the commercial balance (partially provoked by international factors), a fiscal crisis and a slowdown in economic growth. the more relevant aspects of this adjustement plan was the intention of doing the adjustment cutting real wages through an increase in public services prices and wages freeze. This adjustment plans had a huge impact on investment (particullarly the Rodrigazo) and on economic activity. The failure of both plans lead to a deepening of the political crisis, to an inflationary spiral and to a recession. This determined the beginning of the end of the import sustitution industrialization in Argentina. this change in economic pattern will be later emphasized by the militar govenment that took the power through a Coup D´Etat on March 24, 1976, implementing an economic model based on capital and financial rent instead of production. |
